Author: Editor

In Morocco, microcredit organizations can now grant up to 150,000 dirhams (15,000 euros) loan against 50,000 dirhams (5,000 euros) previously. This measure described in the bill n ° 85-18 modifying the law n ° 18.97 relating to the microcredit, was presented in council of government by the secretary general of the government on behalf of the minister of the Economy and Finances, Mohamed Benchaaboun . The new law, inscribed in the Finance Act 2019, emanates from the 12 proposals of the Moroccan confederation of TPE-SME addressed to the head of the government. The employers’ organization had asked, among other things,…

The unfortunate candidate in the presidential election of August 2016, Jean Ping, addressed Saturday from his residence in Libreville, through a speech to the nation. Cantoned under house arrest for several months; he proclaimed himself the winner of the last presidential election and invited the Gabonese to mobilize. Without commenting on the news Gabon strongly tainted by the news of hospitalization on October 24 in Riyadh, Saudi Arabia, President Ali Bongo Ondimba, the President of the High Council of the Resistance (UNHCR-Opposition) and unfortunate candidate of the Presidential election of August 31, 2016, mainly said Saturday at his home that…

The decision comes into effect as of January 1, 2019. An advanced motive, the persistence of slavery in this country of West Africa on the edge of the Maghreb. Known as AGOA for the African Growth Opportunities Act, the US measure allowed certain African countries fulfilling certain conditions (democracy, human rights and the business environment), to export local products to America free of all customs duties. The initiative was launched in the year 2000. Mauritania will have to wait until the democratic transition of 2007 to access it while remaining under surveillance on the sensitive issue of slavery. Abolished in…

With a 6% growth in revenue to CFAF 4 659 million (7.11 million euros) in the first half of 2018, Bank Of Africa Mali (BOA-Mali) maintained its upward trend. The Bank has experienced the current trends in the sector, namely shrinking interest margin and strong competition. Hence the contraction of the order of 4% of the BNP of the Malian subsidiary of BMCE Bank Of Africa, from CFAF 15 billion at the end of June 2017 to 14, 4 billion FCFA at June 30, 2018. This downward trend is still more pronounced at the level of the gross operating result,…

On the menu of this summit of the Union of Maghreb Banks (UBM) scheduled for 7 and 8 November in Tunis, topics on the bank of tomorrow and digitalization. The official theme, “Evolution of Banking: Challenges and Prospects for Maghreb Banks” reflects the concerns of central Maghreb authorities regarding the necessary regulatory changes and the transformation of the traditional bank. The supervision of new services thanks to Big Data, Blockchain, AI, and other innovations will be on the menu of this 14th General Assembly. The banking summit will see the participation of the central banks of Morocco, Tunisia, Algeria, Libya…

By Mohamed Ba, special correspondence. The meeting was held in a large hall of the Saint Michel district in Cotonou. It was in a packed enclosure, in the presence of Honorary Consul Ibrahim SOW and senior leaders of the RPA and the Benno Bobkk Yakkar coalition, that the Honorable Seybatou AW, MP for the West Africa Diaspora, is welcomed in sounds and rhythm this afternoon of October 31, 2018. Even the torrid heat that has swept through Cotonou today could not be enough to mobilize the activists and supporters of the RPA and the Benno Bokk Yakaar coalition. In his…

The Regional Fund for Mortgage Refinancing (CRRH-UEMOA) issues its 8th public bond issue on the regional financial market. The peculiarity of this operation is that it is issued in 2 tranches, according to the following denominations: “CRRH-UEMOA 5,95% 2018-2030” for 25 billion Fcfa and “CRRH-UEMOA 6,05% 2018-2033” for 5 billion Fcfa. With a total indicative amount of CFAF 30 billion, the proceeds of this loan will be used, by the CRRH-UEMOA, for its housing loan refinancing operations in favor of seven (07) shareholder banks having previously indicated their need and whose files were studied and approved by the Commitments Committee…

The products of the soil had the honor, this 2 November 2018, on the esplanade of the Monument of the African Renaissance on the occasion of the opening of the Salon Samasen. The goal is to focus on the products “Made In Senegal”, says Amina Thiam, the promoter of the event and presidency of the agency Atcom. Note the strong presence of local structures such as SONES, CBAO, and various promoters of local products in food, decoration and textile clothing. The presence of the Union of traders of Senegal, Unacois Yessal, through its general manager, Alla Dieng, testifies to the…

Enko Capital has invested in Nigeria Mortgage Bank Mortgage Bank Ltd. (IHMB) through the Africa Private Equity Fund (“EAPEF”). This is the fifth investment for EAPEF, which supports the IHMB expansion strategy in Nigeria. The investment will be used to increase the capital of the IHMB to increase its loan portfolio and improve its operational performance and efficiency through the participation of EAPEF in the strategic direction of the company at the level of the Board of Directors. ‘administration. ECM Director Ralph Gilchrist, who led the transaction on behalf of the investor, said, “EAPEF is delighted to team up with…

By Daniel Aggre, SIKA ADVISORY Abidjan. The downward trend observed since the 2nd quarter of 2018 continued in the 3rd quarter. During this quarter, the BRVM Composite index fell by almost 13%. This downward trend does not seem specific to our market. Indeed, this is a trend observed in the majority of the markets comprising the MSCI index of the EMERGING and FRONTIER countries of which we are part. When we analyze African markets, (for example, image 1, on the cover), the Kenyan (red), Nigerian (blue), BRVM (dark blue) and the MSCI Emerging Market (red Bordeaux) markets us. The Nigerian…

The African Development Bank (AfDB) and the African Insurance Agency for Trade (ATI) announce the signing of a US $ 500 million credit insurance contract structured to cover part of the portfolio. non-sovereign operations of the Bank in Africa. This transaction covers approximately 22% of the $ 2.3 billion of the Bank’s non-sovereign commitment portfolio. The Pan African Bank thus covers itself against non-payment of loans from about 30 financial institutions. Which, in principle, should release enough capital to create nearly US $ 500 million of leeway for the new loan. While ATI will be the direct insurer of the…

Despite a beautiful hand reserved for sub-Saharan Africa in its latest edition of the Doing Business 2019 report, the World Bank indicating a new record with 314 reforms in 128 economies, Guinea has won only one place, rising from 153rd to 152nd out of 190 countries. With forty of the sub-Saharan economies having completed 107 reforms, Guinea has implemented five reforms that have led to this growth, albeit a timid one, whose weak progress can be explained by the level of efficiency and the impact of the reforms. reforms carried out. For example, Togo has carried out six reforms and…

Meeting on November 1, the Board of Directors of Banque Centrale Populaire endorsed the appointment of Mohamed Karim Mounir as CEO. The new CEO was installed on the sidelines of a ceremony chaired by his predecessor and current Minister of Economy and Finance, Mohamed Benchaaboun. The opportunity for the latter to congratulate the newcomer for the royal trust placed in him and to say reassured about the development prospects of the institution. Officiant at the BCP since 1997, Mohamed Karim Mounir is laureate of the Mohammadia School of Engineers of Rabat (super major of the class of 1982) and the…

On 8 November 2018, Bolloré Transport 8 Logistics won the golden trophy for the best port, airport and railways infrastructure project at the second edition of the AIFA (Africa Investments Forum & Awards). The jury singled out the Sitarail project for its rote in the Iogistic transformation of the African continent and its significant potential for development. Eric Melet, Chief Development Officer of Bolloré Transport & Logistics and CEO of Bolloré Railways, was present at the awards ceremony, held at the Pavillon d’Armenonville in Paris. First organised in 2017, the AIFA brings together public and private players working in sectors…

Gates Foundation and Global Partners Announce Commitments ta Advance Commercialization of Disruptive, Off-Grid Toilet Technologies The Bill & Melinda Gates Foundation, with the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC), today joined global innovators, development banks, private-sector players, and governrnents at the Reinvented Toilet Expo in Beijing. Together, they committed to accelerate the commercialization and adoption of disruptive sanitation technologies world-vide over the next decade. Rapid expansion of new, off-grid sanitation products and systems could dramatically reduce the global human and economic tell of unsafe sanitation, including the deaths of…

Africa50, the pan-African infrastructure investment platform, has signed an agreement with the Republic of Rwanda to develop and finance a “Digital Innovation Precinct”, including commercial and retail complexes, as part of Kigali Innovation City (KIC). The announcement was made at a signing ceremony organized by Africa50 during the Africa Investment Forum in Johannesburg on Wednesday. Under the terms of the agreement Africa50 was appointed co-sponsor and partner of the project. It will apply its project development, financial structuring, and infrastructure development expertise, working alongside the Rwanda Development Board and other partners during the development phase. It will also help select…

Centurion Law Group (Centurion), a pan-African law conglomerate, now offers the cost savings and efficiency of flexible legal services through its acquisition of IMANI-African Lawyers On Demand. http://imanilod.com/. Through Centurion Plus, a division of Centurion, corporate clients throughout Africa can select from a pool of approximately 190 carefully vetted, on-demand attorneys for temporary and project-based legal services. “Flexible legal services have transformed the legal industry in the United States, Canada, Europe and regions of Asia,” says NJ Ayuk, CEO of Centurion Law Group. “We’re confident that with our massive capital investment in technology and human resources, it will…

The Al Ormane Group is opening the way for socially responsible investment to the various players in the Moroccan financial market through the first public bond issue in the form of “Social & Green Bonds” bonds in Morocco. This issue inaugurates the Group’s entry into the national financial market through a raise of 1 billion MAD (100 million euros) for a 10-year maturity, repayable annually and with a risk premium included between 100 and 120 bp for sustainable bond tranches and 110 and 120 bp for regular tranches. The subscription period is from 12 to 14 November 2018. In keeping…

The 11th edition of the MEDays Forum, which will be held from 7 to 10 November in Tangiers, will be marked by the participation of President Roch Marc Christian Kaboré of Burkina Faso. “It is a great honor for us to welcome to Tangier the President of Faso, an African Head of State who embodies a new democratic page for his country with a desire to work for regional and continental integration, a Inclusive growth model for youth, women, and the rural world, not to mention its commitment to innovation and renewable energy. Said Brahim Fassi Fihri, President of the…

In its Doing Business annual report, published on October 31, 2018, the World Bank ranked Djibouti the second year in a row among the 10 economies in the world that have made the most progress. It is all the more remarkable that Djibouti is, with India, the only country to have obtained such a result. Djibouti is now ranked 99th in the world for the business climate. Djibouti was commended for implementing key reforms in six core areas that have significantly improved the business climate. The reforms made it easier to start businesses, register a property, obtain credit, protect minority…

Solid leader of insurance IARDT in Cameroon for decades, Chanas Assurances SA is no longer in charge. In the last note published on October 25 by the Insurance Department of the Cameroon Ministry of Finance, the brick-and-mortar company founded by pioneer Jacqueline Casalegno is paying the price of the decisions of the National Hydrocarbons Company (SNH), both its shareholder and customer references. What is happening within Chanas? What about BGFI International’s actions? Is there a planned demolition? According to the note from the Ministry of Finance, Axa Assurances is the leader in insurance IARDT with a volume of premiums of…

The Pan African Employability Assistance Network (YJN) signed an agreement with IFG Executive Education on Wednesday (October 17th) on two agreements relating to the training and capacity building of young graduates in Côte d’Ivoire and the organization of the second edition of the Young Job Network FORUM (#YJNFORUM). Announced in recent months, this agreement will enable young graduates from Côte d’Ivoire to increase their chances of finding a job and to facilitate their conversion to the disciplines of the future that meet the current needs of companies, all of which is sanctioned by a certificate. On the other hand, it…

Six months ahead of the Mauritanian presidential elections, President Mohamed Ould Abdel Aziz, who is due to leave power according to the constitution, cuts his last cards. Indeed, the “dream team” was formed Tuesday, October 30 by the new Prime Minister Mohamed Salem O. Bechir, called to be equipped with a magic wand to solve the problems of Mauritanians and to coordinate the next electoral contest, that of Presidential elections of 2019. First remark on the new machinery of government: all the former ministers are kept in their posts, except for some strategic changes. The appointment of General Mohamed Ahmed…

On the sidelines of the Africa Investment Forum, the African Development Bank and Africa50 have signed yesterday an agreement with the Democratic Republic of Congo and the Republic of Congo to develop and finance the first road-rail bridge project linking their capitals – Kinshasa and Brazzaville. Under the terms of the framework agreement, the two governments have mandated Africa50 and the African Development Bank to develop the project as a public private partnership, the bank will act as the debt provider under the aegis of the Economic Community of Central African States. As the main developer, Africa50 will lead the project…

The Doing Business Report of the World Bank has just been released on October 31, 2018. The ranking, which was criticized last year by Paul Romer, Nobel Prize for Economics, continues to enjoy strong credibility with investors. For the third consecutive year, “Sub-Saharan Africa is setting its own record for the number of regulatory reforms facilitating business,” says the Bank. . Last year, the countries concerned by this name (the World Bank, by the way, continues to separate North Africa from the mother continent) conducted 107 reforms aimed at improving the ease of doing business for small and medium-sized businesses.…

Equator Capital Partners LLC announced, on October 30, 2018, an investment from its new fund, ShoreCap III LP, into fintech MFS Africa, a pan-African leader operating the continent’s largest digital payments hub. MFS Africa is a pan-African company specializing in financial technologies. The MFS hub is connected to more than 170 million mobile wallets in sub-Saharan Africa. The development of financial technology applications by microfinance and microinsurance companies, SME banks, leasing companies and housing finance companies is attracting many new investments and opportunities across the continent. “MFS Africa is well positioned to evolve and deliver Mobile Financial Services, vital to…

On 29 October 2018, the Republic of Seychelles launched the world’s first sovereign bond, an innovative financial instrument designed to support sustainable projects in the sea and fisheries sector. The bond, which raised US $ 15 million from international investors, demonstrates the potential of countries to tap capital markets to finance the sustainable use of marine resources. The World Bank helped develop the blue bond and join the three investors: Calvert Impact Capital, Nuveen and Prudential. We are honored to be the first country to be the first to launch such an innovative financing instrument. The Blue Bond, part of…

JEDDAH: The Joint Technical Group of the Islamic Development Bank (IsDB) Group, Islamic Solidarity Fund for Development (ISFD) and Sulaiman Al-Rajhi Finance and Development Foundation held a meeting on 31st October at THIQAH Office in Jeddah to explore opportunities for collaboration, to discover possible areas of partnership and to share experiences. Dr. Waleed Alwaheeb, the Director General of ISFD, said “This cooperation brings complementarity between our organizations to realize a common vision, a vision of providing demonstrable development impact to achieve sustainable results. Through this collaboration, we agreed on concrete initiatives and work jointly in supporting the community.” The partnership…

The African Continental Free Trade Agreement (AfCFTA) has huge potential to move Africa to dizzy heights of development on the platform of the African Union’s Agenda 2063, says Nigeria’s Industry, Trade and Investment Minister, Mr. Okechukwu E. Enelamah. Speaking at the 2018 Africa Trade Forum in Lagos, Mr. Enelamah said both the AfCFTA and Agenda 2063 provide the legal and policy framework for addressing the challenges before the African Union and seizing its opportunities. “But, speed is now of the essence.  This time it must be different,” he told delegates from across the continent and beyond who are attending the…

The unemployment rate in Côte d’Ivoire would be 2% in 2018. The elephant would be in the rare situation of full employment. These affirmations made on October 25 by the Minister of Promotion of Youth and Youth Employment, Mamadou Toure, during a meeting with the National Union of Journalists of Côte d’Ivoire (UNJCI), have trouble convincing to see the many reactions through social networks. Supporting his remarks, the minister estimates that the unemployment rate has followed a downward trend since 2012, from 9 to 2%. At the time, the Ministry of Employment and the International Labor Office (ILO) carried out…